Ovintiv agrees $890 million Logan acquisition to expand its Montney position
Ovintiv ($OVV) agreed to acquire Logan Energy for C$1.40 a share in cash, valuing the transaction at approximately US$890 million, including expected net debt at completion. The assets would add roughly 266,000 net acres and current production of 20,000 barrels of oil equivalent a day in the Montney. Logan shareholders would also receive shares in a separate company holding selected assets outside the Montney and Duvernay areas. Ovintiv expects about US$60 million of annual cost savings and a 5%
0